NIESR estimated gross domestic product grew by 0.1% in the last three months of the year, compared with the third quarter, reports the Telegraph.
The Institute said the figures suggested the economy grew by 1% in 2011, less than half the rate of 2010, when GDP increased by 2.1%.
NIESR’s assessment comes ahead of the first official estimate, which is to be published by the Office for National Statistics on January 25.
The data coincided with weaker-than-expected industrial production data for November, and a deteriorating outlook for the UK according to the Organisation for Economic Co-operation and Development (OECD).
Philip Shaw, economist at Investec, told the Telegraph the industrial data did “not bode well” for GDP in the fourth quarter: “There is a growing risk that the recession started in Q4 last year rather than in Q1 this year.”
